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CALGARY, ALBERTA--(Marketwire - May 26, 2011) - Mr. Irvin Eisler, President of Petro Viking Energy Inc. (TSX VENTURE:VIK.P) (the "Corporation" or "Petro"), announces that it has closed its previously announced private placement of units and flow-through shares ("Units" and "FT Shares", respectively). The Corporation completed the sale of 1,528,571 Units at $0.35 per Unit and 970,000 FT Shares at $0.40 per FT Share for aggregate gross proceeds of $922,999 (the "Offering"). Each Unit consists of one common share in the capital of the Corporation (a "Common Share") and one common share purchase warrant (each whole common share purchase warrant, a "Warrant"). Each Warrant is exercisable for 2 years from the closing of the Offering to acquire one Common Share at a price of $0.55 per Common Share, subject to an accelerated expiry date in certain circumstances as previously announced. |
